ICYMI: Shopify has surfed the online shopping wave to become one of Canada’s most valuable companies. But a pivot away from an asset-light model puts it on the wrong end of another trend, writes sharonlamhk
- Shopify on Feb. 16 said that total revenue in the fourth quarter was nearly $1.4 billion, a 41% increase from a year earlier. The e-commerce firm’s subscription revenue from merchants rose 26% year-on-year to $351 million, while revenue from add-on services like payments rose 47% year-on-year to $1.0 billion. The company made a fourth-quarter net loss of $371 million.
- Shopify said it would be shifting towards operating more major hub warehouses themselves while also continuing to leverage partnerships. It also predicted slower revenue growth for the full year of 2022 than that of 2021.Editing by John Foley and Pranav KiranReuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day.
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